PRESS RELEASE - 57% of B2B Tech Startups intensify Industry Analyst work, says University Study
EDINBURGH, UK — September 27, 2022 — Startup industry analyst relations specialists Chris Holscher (Germany) and Robin Schaffer (USA), in collaboration with the University of Edinburgh Business School, revealed new insights based on data from the first global “State of Startups with Industry Analysts” (SSIA) study today.
57% of startups who participated in the SSIA research are discovering an "under the radar" part of the playing field for their growth journeys: They increase working with industry analysts such as Gartner, Forrester or IDC to accelerate decision making and drive brand recognition.
Prominent venture capital firms like Sierra Ventures, Andreessen Horowitz and Sapphire Ventures have emphasized the importance of industry analysts to startups before. But while two-thirds of startups believed that broad product availability was necessary to get meaningful access to industry analysts, the majority of more than 200 participating analysts want to hear from startups much earlier: That is, at or before the beta stage.
"For Startups, this can mean years of advantage in getting to product-market-fit sooner, building solid brand reputation, de-risking investment and strengthening the business valuation." Chris Holscher, Holscher.one Germany
The report also reveals broadly established misconceptions about Industry Analyst Relations as a growth-enabling function for startups. Practitioners receive foundational orientation as well as actionable advice about effective approaches, briefings, choosing support, priorities and investment.
"This research has been sorely needed in the startup community. It might prove the most impactful research for startups this year." Professor Neil Pollock, University of Edinburgh Analyst Observatory, UK
Previous research has consistently ranked industry analysts among the three most influential factors in b2b technology purchasing decisions. Startup specific research, showed startups that were highlighted in leading industry analysts’ publications exceeded the typical four year survival rate of only 50 percent, with an impressive 84 percent instead.
"Given the impact of industry analysts in B2B technology markets, no vendor can afford not to use this part of the playing field — certainly not as a startup aiming to break into a market against established vendors, disrupt a market or even create a new category. You should engage analysts early and strategically." Robin Schaffer, Schaffer AR, USA
The 2022 SSIA report and an overview presentation are available for interested parties.
The State of Startups with Industry Analysts (SSIA) is a research project of the Analyst Observatory at the University of Edinburgh Business School. It is based on three integrated surveys and follow-up conversations with approximately five hundred b2b technology startups, industry analysts and the ecosystem of venture capital firms and accelerators, representing thousands of additional emerging vendors. 80 percent of participants were headquartered in Europe and North America.
Startup analyst relations (AR) specialist Chris Holscher, Germany, initiated the project and conducted it in collaboration with American-based fellow AR expert Robin Schaffer. Professor Neil Pollock specializes in innovation management and leads the Analyst Observatory.
The SSIA research will be continued and amended with special focus areas on a regular basis.